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<br /> . �.:..`� 98-�����v . '
<br /> . , 5. �rd os Pmperty lnsurance. Borrower slial! keep the improvernents now exisung or ereafter erected on the .�4
<br /> '•�.•a. •. . �� P�vpesty insured against loss by fire.da7ar�ds inctuded within the term"extended coverage" and any othar hazards.including :�:€, . t'_::,
<br /> - � floods or flooding. for which Lender requires insurance.This insurance shatl be m.�intained in the amounts and for the periods .
<br /> � � that Lender requires.l'he insurance carrier providing the insurance shall be chosen by Borrower subject to I.ender's approval , ��� � ,
<br /> � ,--;:-•� which shall not be unreawnably withheld. If Borrower fails to maintain wverage described above. Lender may, at [.ender's �.` .�� � `_ �
<br /> ' , _ z�--�s option.obtain coverage to protect Lender's rights in the Praperty in accordance with paragraph 7.
<br /> . ` '� All insurance policies and renewals shall be acceptabte to Lender and shafl inclade a standard mortgage clause. Lender
<br />- .4 shall have the rigSit to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender atl teceipts of ` '.
<br /> `.`� , �� '� paid premiums and mnewal notices_In the event of loss,gorrower shall give prompt notice to the i►isurance carrier and Lender. � �i ." � - �.
<br /> ;?` ' � 'S Lender may make praof of lass if not made promptly by Borrower. "``
<br /> 'A'i
<br /> :� . . • Unless Lender and Borrower otherwise agree in writing,insurance proceeds shali be applied to restoration or tepair of the , ,.
<br /> ` �� ';j Praperty damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration or . _ _.
<br /> ,����. ` � repair is not economicaliy feasible or I.ender's security would be lessened,the insuiance proceeds s1�a11 be apPlied to the sums ,- --
<br /> t:` • , � ; secured by [his Security Ynstrumen[, w6ether or not then due, with any excess paid to Borrower. lf Borrower abandons the
<br /> � ' `: Property,or dc�es not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then -_ . _ __
<br /> � es :
<br />�:.5; :.; Lender may collect the insurance proceeds. [.ender may use the proceeds to repair or restore the Property or to pay sums � ;
<br /> � � . . ' , �� secured by this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given. , _
<br /> - J Untess Lender and Borrower otherwise agree irt writing, any applicaqan of procceds to principal shall not extend or ==�
<br /> ` .��� postpone the due date of the monthly payments referred to in paragraphs i and 2 or change the amount of the payments. If "y .. :,r___
<br /> , , ;�� under paragraph 21 [he Property is acquire�by Lender.Borrower s right to any insurance po licies an d pr a c e e d s resu i ting fr o m ;_—
<br /> `..t�- � damage to the Praperty prior to the acquisiaon shall pass to Lender ra ihe eatent of the sums secured by this Security Iastnunent _ �L.Q=
<br /> � . . immediately prior to the acquisition. ' . •���_
<br /> ?�-•� '.;�• 6. Occupancy.Preservat�on,ltiaintenance and Proteclion of the Property;Borrower's Laan Appllcation;Lea.sehotds. . ,�::�>=r:.
<br /> ,� Borrower shall occupy,e�tablish,and use the Property as Borrower's principal residence within sixty days after the eaecurion of ;.:��, .,.-_
<br /> .�1:.• ' • • this Security Instrument and shall oontinue to occupy the Property as Borrower's principal residence for at least ane yeaz after - , _--°-`""'
<br /> ' the date af occupancy,untess[.ender othenvise agrees in writing, which consent shall not be unreasanably withheld,or unless Y � '�'�
<br /> � ;, . t.-__�:
<br /> . ,. • extenuating circumstances exist which are beyond Borrower's conao{. Borrower shall not destroy, damage or impair the , ;:-�,y
<br /> . Property, allow the Property to deteriorate. or commit waste on the Property. Horrower shall be in default if any forfeitare `=�'T
<br /> _ • , ' action or proceeAing,whether civil or criminal, is beaun that in Lender's good faith judgment could result in forfeiture of the '• -=--
<br /> e a . -:.,_
<br /> . . Property or otherwise materially impair the lien created by this Security Instrument or I.ender's security interest.Borrower may � .�
<br /> ' cure such a default and reinstate,as provided in parag�aph 18,by causing the action or praceeding to be dismissed with a ruling El�`"�_
<br /> ' . that, in Lender s good faith determination, precludes forfeiture of the Borrower's interest in the Propeny or other material `•';�"k:.:,g
<br /> - i� : , �• impairment of the lien creat�d by this Security instrument or Lender s security interest. Borrower shall also be in default if . � .. .`'?�:
<br /> _:'_':.. � , . Borrower,during the toan application process,gave materially false or inaccurate information or statements to Lender(or failed '�t':. ., i� �_,�
<br /> . ' to provide Lender with any material informatian)in wnnection witn the loan evidenced by the Note,including,but not limited .' :: "`===
<br /> �•..:--
<br /> � }.�:
<br /> . � to,reptesentations cortcerning Borrower's occupancy of the Property as a principal residence. If this Secnrity Instrument is on a ��"�.,��, -,�`:
<br /> � , - tea�ehold. Borrower shall comply with all the provisions of' the lease. If Borrower acquires fee title to the Pmperty. the ;.`_����
<br /> � . ' teasehald and the fee tide shall not merge unless Lender agrees to the merger in writing. ` ;' �i:
<br /> ' 7.Protettion of Lender's Ri�hts in the Property.If Borrowcr fails to perfarm the covenants and agreements wntained in , -° _
<br /> • this Security Instrument, or there is a legal proceeding that may significantly affect l.ender's rights in the Property (such as a , �''`�"'
<br /> � �. . . '' . praceeding in bankruptcy,probate,for condemnatian or forfeiture or to enforce laws or re ulations),then l..ender ma do and '��°� � ^
<br /> S Y ��'�•"`:,.'�
<br /> , , P Y rY P P Y S P nY• y �.r; r . �--
<br /> � a for whatever is necessa to ror..t the value of ihe Pro ert and I.endcr's ri hts in the Pro e Lettder's actions ma • .:,:�,at,.�
<br /> � include paying any sums secured by a lien which hati priority over this Security In.strument, aypearing in court. paying � • � �� ''.� ��`
<br /> � reasonable attumey�fce+and entering on the Property to make rcpairc. Although Lender may take action under this paragraph . , �:i•�
<br /> , , ' 7.Lender daes not have ta do so. . � , �
<br /> Any amounts disbursed by Lcnder under this paragrapn 7 shall become additianal debt of Borrower secured by this � • '
<br /> , �• Security Instrument. Unle.�.Barrower and I.ender agree to othcr termr of payment. these amaunts shall bear interest f'rom the • , ' ... • ,
<br /> date of disbunement ut the Notc rate and�hall he payable. with intcrest, upon natice from Lender to Bonower requesting ,
<br /> . � Payment. � ... .. .
<br /> • . S.Mostg�ge Insurance. If l.ender reyuired mortgage insurance as a condition of making the loan secured by this Security ,
<br /> ' Instrument. Borrower shall pay the prcmiums rcquircd to maintain the mongagc insurance in effect. If, for any reason, the • ,
<br /> . ' mortgage incurance coverage requited by Lcnder lap,es or cea�es to Be in effect, Borrower tihall pay the premiums required to . '
<br /> � ; obtain coverage substantially eyuivalent to the mortgage insurancc previously in effect.at a cost�ubstantially eyuivalent to the . . .
<br /> ' co�t to Borrowcr of thc mortgagc in�urance precio::sly in effect. from an altcrnatc mortgage insurer approvcd by Lender. If .'':
<br /> �ubstantially equivalcnt mortgagc insurance rnvera�:is not available.Borrower shaU pay to Lender pch month a sum eyual to ' •• .
<br /> one-twelfth oP the ye:uly mortgage intiurance premium being paid by Bnrrower when the insurance coverage lapseci or ceased to .
<br /> � � be in effect. l.ender will accept.utie and retain these payments a. a lo�s re�erve in lieu c�f murtga�e insurance. l.oss reserve '
<br /> ' . . Form 3028 9/90 ��
<br />. .. . , - Pa.�n 3 of G - •.
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